For over a decade, Giorgos Petzetakis has been one of Greece’s most elusive businessmen. Once heir to a powerful plastics empire, now a fugitive from Greek justice, Petzetakis lives a life of apparent luxury abroad—sharing it openly on social media—while legal authorities seek his arrest internationally.

The Rise and Fall of a Greek Industrial Dynasty

The Petzetakis name was once synonymous with innovation and success in the plastics industry. Founded in 1960 by Aristoboulos Petzetakis, a visionary chemical engineer and inventor, the company revolutionized the production of flexible plastic hoses and held patents that were licensed to global giants such as Goodyear and Pirelli. At its peak, the firm had subsidiaries in 22 countries, employing hundreds and exporting worldwide.

The sudden death of Aristoboulos in 1973 at only 50 years old marked the beginning of the company’s decline. Giorgos, his son, was just nine years old at the time and only took over the reins in 1986 after completing his studies at Boston College, the London School of Economics, and Harvard.

Despite his impressive education, Giorgos inherited a fragile business. Under his leadership, the company expanded aggressively, accumulating heavy debts and losing ground to fierce competition and expired patents. Poor strategic decisions and failed investments further worsened its financial health.

Legal Troubles and Flight Abroad

By 2011, Giorgos Petzetakis was in deep legal trouble. Greek authorities issued a warrant for his arrest over unpaid debts to the state amounting to over €2 million. He was arrested and later convicted in absentia to a 10-year prison sentence for tax evasion and failure to pay social security contributions.

However, before the conviction, Petzetakis disappeared, fleeing Greece and avoiding imprisonment. Despite being an internationally wanted man, he continues to travel widely, documented in social media posts showing visits to New York, Paris, Lisbon, Ibiza, Cairo, and other cosmopolitan hotspots.

Business and Lifestyle in Exile

Far from the financial ruin in Athens, Petzetakis is reported to have resumed activities in the plastics industry, co-founding companies such as United Plastics Inc. in the New York area and United Plastics SA in Haiti. His social media presence reflects a lavish lifestyle, featuring luxury restaurants, exclusive clubs, and beach volleyball on pristine shores.

He also appears politically engaged, showing support for figures like former U.S. President Donald Trump. Petzetakis describes himself as a “citizen of the world,” frequently sharing inspirational quotes and glimpses of his global travels.

Family and Personal Life

Giorgos married Italian-born Gabriella Kalini, and together they have four children. Their family life once mirrored the lavish lifestyle associated with their business empire—multiple villas, luxury cars, and a steady presence in Athens’ social elite.

The collapse of the family business led to a retreat from public life in Greece. While Giorgos vanished, his wife pursued a career in business development in Milan. Their son Aris has also made headlines, involved in a criminal case related to a fatal altercation in a luxury residential complex near Athens.

The Company’s Final Chapter and Legacy

The Petzetakis Group officially declared bankruptcy in 2015. Since then, its assets—including factories and prime real estate—have been auctioned off, signaling the definitive end of one of Greece’s most iconic industrial dynasties.

The main factory in Viotia was acquired in 2022 by Hellenic Cables’ parent company and transformed into a modern cable manufacturing facility. Other properties, including a luxurious apartment in Voula, once belonged to Giorgos and fetched high auction prices.

A Complex Tale of Power, Fall, and Survival

The story of Giorgos Petzetakis encapsulates the volatility of family business empires amid global economic pressures and shifting industrial landscapes. From the heights of international acclaim to the depths of legal battles and bankruptcy, Petzetakis’s life remains a mixture of privilege, controversy, and reinvention.

While Greek authorities continue to seek his return for justice, Giorgos Petzetakis moves freely on the global stage, navigating new business ventures and living a life that contrasts sharply with his legal status at home.